Note: More than one statement could be true. If none of the statements is true,

Question

Note: More than one statement could be true. If none of the statements is true, mark the appropriate box.

Last year at least one of their clients made a profit of more than 5%.

Last year all of their clients made a profit of 7% or more.

Last year fewer than half of their clients made a profit of 7%or less.

Last year some of their clients made a profit of exactly

7%.

Two years ago at least one of their clients made a profit of at least

7%

None of the above statements is true.

An investment company advertised that last year its clients, on average, made a profit of 7%. Assuming that average refers to the mean, which of the following claims must be true based on this information?

Note: More than one statement could be true. If none of the statements is true, mark the appropriate box.

Explanation / Answer

Last year, the clients of the investment company, on average, made a profit of 7 %. Thus, the mean of the data is 7 % profit. This means that the following statements are true:

A. Last year at least one of their clients made a profit of more than 5%. ( otherwise the mean will not be 7 %)

B. Last year fewer than half of their clients made a profit of 7% or less.( otherwise the mean will not be 7 %)

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